Judge Puts Dana-SPX Spat On Hold

Law360, New York (February 12, 2008, 12:00 AM EST) -- Motions in a trial between industry technology company SPX Corp. and recently reorganized Dana Corp. over an alleged breach of warranties involving a stock transfer were stayed on Tuesday. A federal judge told both parties they needed to “more fully develop the issue” they were litigating.

The suit concerns shares of Promotora De Industries Mecanicas SA (Promec), a joint venture between SPX and Grupo Condumex SA, that SPX had transferred to Dana Corp.

Condumex initiated the lawsuit in 1999, claiming it had the right of first...
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